New regulations on use of foreign currencies in Vietnam

 A circular amending and supplementing several provisions of Circular 32/2013/TT-NHNN guiding the implementation of regulations on restricting the use of foreign currencies in the territory of Vietnam became effective on May 13.
TIN LIÊN QUAN
new regulations on use of foreign currencies in vietnam Vietnam’s foreign reserves reach 63 billion USD
new regulations on use of foreign currencies in vietnam Banks banned from making transactions involving cryptocurrencies

The circular No.03/2019/TT-NHNN, issued by the State Bank of Vietnam on March 29, 2019, supplements regulations regarding the cases in which the use of foreign currencies is allowed within the Vietnamese territory for non-residents.

new regulations on use of foreign currencies in vietnam
Illustrative image.

Foreign investors are entitled to leave a deposit and provide collateral in foreign currencies through transfer when participating in an auction in the case of buying shares in state-owned enterprises to be equitised as approved by the Prime Minister.

Foreign investors are allowed to use foreign currencies when they purchase State shares and State capital contribution at State-owned enterprises and enterprises with State capital to be divested as approved by the Prime Minister.

Foreign investors can also use foreign currencies in the case of purchasing shares and capital contribution of State-owned enterprises invested in other enterprises that carry out the divestment of State capital as approved by the Prime Minister.

new regulations on use of foreign currencies in vietnam

Firms advised to sign contracts in transactions with Chinese partners

Any transactions with Chinese businesses should be conducted via contracts in line with international trade practice, heard a conference in the Mekong Delta province of ...

new regulations on use of foreign currencies in vietnam

Vietnamese firms seek to adapt to official exports to China

Vietnamese businesses and farmers face various challenges in exporting farm produce to China, which is shifting from unofficial channels to official ones.

new regulations on use of foreign currencies in vietnam

Tra fish industry looks to keep growth momentum

Vietnamese tra fish exporters are confident that their business will continue to thrive in the coming time despite facing anti-dumping duties and expansion of farming ...

(Source: VNA)